American Well (NYSE:AMWL) Price Target Raised to $10.00

American Well (NYSE:AMWL) had its target price lifted by investment analysts at Stifel Nicolaus from $9.00 to $10.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective indicates a potential downside of 15.97% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company raised shares of American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price objective for the company in a report on Monday, January 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a report on Thursday. Finally, Morgan Stanley cut their price objective on shares of American Well from $20.00 to $10.50 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.88.

American Well Stock Performance

Shares of American Well stock traded down $0.45 during trading on Thursday, hitting $11.90. 13,329 shares of the company’s stock were exchanged, compared to its average volume of 60,096. The business has a 50-day simple moving average of $9.21 and a 200-day simple moving average of $9.12. American Well has a 52-week low of $5.00 and a 52-week high of $29.00. The stock has a market capitalization of $182.31 million, a price-to-earnings ratio of -0.81 and a beta of 1.18.

American Well (NYSE:AMWL) last issued its earnings results on Wednesday, February 12th. The company reported ($2.77) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.04) by $0.27. American Well had a negative net margin of 84.27% and a negative return on equity of 52.49%. On average, equities analysts anticipate that American Well will post -13.38 earnings per share for the current fiscal year.

Institutional Trading of American Well

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in shares of American Well by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 147,925 shares of the company’s stock worth $1,073,000 after purchasing an additional 922 shares in the last quarter. Norges Bank purchased a new stake in shares of American Well during the fourth quarter worth about $204,000. Takeda Pharmaceutical Co. Ltd. purchased a new stake in shares of American Well during the fourth quarter worth about $564,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of American Well during the fourth quarter worth about $45,000. Finally, HighTower Advisors LLC purchased a new stake in shares of American Well during the third quarter worth about $355,000. Hedge funds and other institutional investors own 56.05% of the company’s stock.

American Well Company Profile

American Well Corporation, an enterprise platform and software company, delivers digitally enabling hybrid care in the United States and internationally. The company offers Converge, a cloud-based platform that enables health providers, payers, and innovators to provide in-person, virtual and automated care; and delivers virtual primary care, post-discharge follow-up, chronic condition management, virtual nursing, e-sitting, on-demand and scheduled virtual visits, specialty consults, automated care, and behavioral health, as well as specialty care programs, including dermatology, musculoskeletal care, second opinion, and cardiometabolic care to patients and members.